Word: owned
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Dates: during 1980-1989
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Although FBI agents masquerading as brokers spotted some wrongdoing in the pits where U.S. Treasury bonds and Swiss francs are traded, the bulk of the charges are directed at the Board of Trade's soybean pit and the Merc's Japanese yen pit. The yen traders have long been viewed...
One type of shady deal was "front-running," in which a broker profits from advance information by trading ahead of a customer's order. A crooked broker might receive an order, for example, to buy 250,000 bu. of soybeans at $5.85 a bu. He could easily execute his own...
But eleventh-hour amends are unlikely to save the exchanges from increased regulatory scrutiny. Last week the House Agriculture Committee voted to boost the budget of the Commodity Futures Trading Commission, which oversees the Chicago markets, from $34.7 million to $44.5 million by 1991. And in a step designed to...
Strauss insists that having some broad, citywide perspective on the council is essential, "in contrast to having people that are singularly concerned about their own districts." The mayor's supporters are also counting on splits among minorities. Some Hispanics, for example, see no great benefits to more single districts because...
Most news organizations, including TIME, impose no blanket restrictions on outside political activity so long as it is unrelated to a reporter's regular field. But others frown on any political advocacy. The Times, which plans to clarify its policy, declines to "explicitly say that journalists can't participate in...